Arctic Research, Monitoring, and Observing Act of 2012

[AI summary unavailable — showing source text] Arctic Research, Monitoring, and Observing Act of 2012 - Amends the Arctic Research and Policy Act of 1984 to direct the Arctic Research Commission to provide merit-based grants to federal, state, local, or tribal governments and academic and private organizations to conduct research on or related to the Arctic in accordance with the national Arctic research program plan. Authorizes the Commission to enter into agreements with appropriate agencies or organizations to administer grants made pursuant to this Act for Arctic research, including reimbursement from funds of the Commission to administer such grants. Revises the requirements for compensation of Commission members not presently employed by the federal government or any state or local government. Instructs the Commission to adopt conflict of interest and recusal provisions that apply to decisions of the Commission and to all Commission members as if each member is an affected individual within the meaning of the Magnuson-Stevens Fishery Conservation and Management Act. Includes disclosure of any financial interest in or relationship to a party that is applying for funding from the Commission held by the Commission member. Am…